Needham & Company LLC Reaffirms “Hold” Rating for STAAR Surgical (NASDAQ:STAA)

STAAR Surgical (NASDAQ:STAA)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports.

Other research analysts have also recently issued reports about the company. Stephens raised STAAR Surgical to a “hold” rating in a research note on Monday, December 2nd. Canaccord Genuity Group lowered their price objective on STAAR Surgical from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.83.

STAAR Surgical Stock Down 3.2 %

STAAR Surgical stock opened at $23.12 on Tuesday. The company’s 50 day moving average is $26.43 and its two-hundred day moving average is $32.94. The firm has a market cap of $1.14 billion, a PE ratio of 52.55 and a beta of 0.63. STAAR Surgical has a 52-week low of $22.40 and a 52-week high of $52.68.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. acquired 23,000 shares of STAAR Surgical stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $24.33 per share, for a total transaction of $559,590.00. Following the transaction, the insider now owns 10,848,631 shares of the company’s stock, valued at $263,947,192.23. This represents a 0.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently bought and sold shares of STAA. Arcadia Investment Management Corp MI purchased a new position in shares of STAAR Surgical during the third quarter worth about $37,000. Quarry LP acquired a new position in STAAR Surgical during the third quarter worth approximately $50,000. Quest Partners LLC purchased a new stake in STAAR Surgical in the third quarter valued at approximately $128,000. Canada Pension Plan Investment Board acquired a new stake in shares of STAAR Surgical in the second quarter valued at approximately $129,000. Finally, Van ECK Associates Corp grew its position in shares of STAAR Surgical by 12.7% during the third quarter. Van ECK Associates Corp now owns 3,478 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 393 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.